Market Reports

Weekly Statshot

What’s new in the Code of Ethics for 2019?

posted: 01/07/2019

NAR has recognized that a growing dilemma facing buyers’ agents is the assurance that the listing agent presented their offers. The following NEW Standard of Practice 1-7 has been added to Article 1 of the Code of Ethics that obligates listing brokers to provide, upon written request of a buyer’s agent, written affirmation that an offer was presented or written notification that the seller waived the obligation to have the offer presented.

The new Standard of Practice 1-7 has also been added to CMR’s Ethics Citation Policy which allows a Respondent in an ethics complaint, who admits guilt, to waive his rights to a due process hearing and pay a $250 citation instead.